A local area consulting firm is trying to increase the long-term strategic focus of its company reports.Therefore, the firm has decided to use the balanced scorecard.What type of new information, that the company currently doesn't use in its financial reports, should the company include?
A)Non-financial information, including customer satisfaction, innovation, etc.
B)Additional financial information, such as profitability measures and market value.
C)Product life cycle information.
D)Supplemental accounting reports
E)Continuous improvement

Question

Quizplus · Accepted Answer

The balanced scorecard approach emphasizes the inclusion of non-financial measures in addition to financial measures. Therefore, the company should include non-financial information such as customer satisfaction, innovation, employee engagement, and other metrics that are critical to the company's long-term success. This will help the company to have a more comprehensive view of its performance and make better decisions to drive long-term success. Additional financial information may also be useful, but it is not the primary focus of the balanced scorecard approach.

A Local Area Consulting Firm Is Trying to Increase the Long-Term